If an employee had borrowed money from his employer to purchase a car (interest free) about 2 yrs back but later the company terminated him because the company feels that he is unfit to work anymore and compensated him with a lump sum of money. After offsetting this compensation amount, he still owes the company's only around $5k but from the way this employee puts it, it seems that he is very unwilling to pay back and keep on demanding more and more.
At first, the company wants to pay him 6 months, then later add another 2 months if he pays his car loan within 3 weeks, but he requests for another 1 month, so the company obliged him, now he wants the company to reduce his outstanding car loan further so that he will pay lesser and wants to issue 10 monthly instalments cheques but the company allows him 4 monthly instalments only.
He claims that he has no money because he runs out of job. He needs to borrow money from the loan shark and from friends (but nobody wants to lent him) and he even threatened the boss that is it that he wants to force him to commit suicide.
He just got his CPF last year, his deceased mother left him a HDB and some shares and from what I understand he had also sold the HDB. He just went to "Jiuzhago", Bangkok and Genting last year with his wife and he also told one of his colleagues that even if he didn't work, his wife also can support him. :doh: Oh yes, his wife is the secretary of the lawyer.
The boss told him that you can always sell your car and pay your car loan and you still have balance left because of the appreciation of the car value. He claimed that nobody wants to buy his car, so the boss said that I will buy over from you at market price + $2K. Then he said lets not talk about the car first, talk about the compensation.:doh: Alamat, he borrows money to buy car and he doesn't want to talk about the car.:scared-3:
In this type of case, can the company sue him for the outstanding car loan and withdraw all the compensation that the company has promised him and only pay him what he is entitled to because of his greed? Is it worth to take up a case?